Shikiar Asset Management Inc. Increases Position in Capital One Financial Corporation $COF

Key Points

• Shikiar Asset Management increased its stake in Capital One Financial by 15.2% in the first quarter, buying 6,590 additional shares and bringing its total to 49,983 shares worth about $9.1 million.
• Capital One reported first-quarter EPS of $4.42, missing analyst estimates of $5.08, while revenue came in at $15.23 billion versus expectations of $15.68 billion.
• Analysts remain generally positive on COF, with 18 Buy ratings and 5 Hold ratings and a consensus price target of about $260.19, even after several recent target adjustments.

Shikiar Asset Management Inc. boosted its stake in Capital One Financial Corporation (NYSE:COF) by 15.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,983 shares of the financial services provider's stock after purchasing an additional 6,590 shares during the quarter. Capital One Financial comprises approximately 2.6% of Shikiar Asset Management Inc.'s holdings, making the stock its 10th largest holding. Shikiar Asset Management Inc.'s holdings in Capital One Financial were worth $9,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in COF. Norges Bank bought a new stake in shares of Capital One Financial in the fourth quarter worth about $2,089,803,000. Capital International Investors lifted its position in shares of Capital One Financial by 107.9% in the third quarter. Capital International Investors now owns 4,040,408 shares of the financial services provider's stock worth $859,602,000 after buying an additional 2,097,208 shares in the last quarter. Viking Global Investors LP boosted its stake in Capital One Financial by 30.3% during the third quarter. Viking Global Investors LP now owns 7,388,506 shares of the financial services provider's stock valued at $1,570,649,000 after buying an additional 1,717,148 shares during the last quarter. Bessemer Group Inc. boosted its stake in Capital One Financial by 7,143.2% during the fourth quarter. Bessemer Group Inc. now owns 1,448,126 shares of the financial services provider's stock valued at $350,966,000 after buying an additional 1,428,133 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Capital One Financial by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 11,838,304 shares of the financial services provider's stock valued at $2,516,587,000 after buying an additional 1,339,215 shares in the last quarter. Institutional investors own 89.84% of the company's stock.

Capital One Financial Stock Performance

NYSE:COF opened at $200.34 on Wednesday. The firm has a market capitalization of $124.67 billion, a PE ratio of 70.29, a PEG ratio of 0.73 and a beta of 1.03. The stock's fifty day moving average is $190.99 and its 200 day moving average is $205.31. Capital One Financial Corporation has a fifty-two week low of $174.24 and a fifty-two week high of $259.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.03.

Capital One Financial (NYSE:COF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $4.42 EPS for the quarter, missing the consensus estimate of $5.08 by ($0.66). Capital One Financial had a return on equity of 10.59% and a net margin of 4.29%.The firm had revenue of $15.23 billion for the quarter, compared to analysts' expectations of $15.68 billion. During the same period in the previous year, the firm earned $4.06 earnings per share. The firm's quarterly revenue was up 52.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Capital One Financial Corporation will post 19.51 earnings per share for the current year.

Capital One Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Capital One Financial's dividend payout ratio (DPR) is 112.28%.

Insider Transactions at Capital One Financial

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of Capital One Financial stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $183.93, for a total transaction of $643,755.00. Following the completion of the transaction, the general counsel directly owned 97,194 shares of the company's stock, valued at approximately $17,876,892.42. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,749 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $192.58, for a total transaction of $336,822.42. Following the completion of the sale, the insider directly owned 61,579 shares in the company, valued at $11,858,883.82. This trade represents a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COF has been the topic of a number of research reports. BTIG Research lifted their price objective on Capital One Financial from $224.00 to $259.00 and gave the stock a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Capital One Financial from $213.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. UBS Group reduced their price target on shares of Capital One Financial from $283.00 to $270.00 in a research report on Wednesday, May 6th. Argus decreased their price target on shares of Capital One Financial from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Finally, Morgan Stanley lowered their price objective on shares of Capital One Financial from $300.00 to $273.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $260.19.

Capital One Financial Company Profile

Capital One Financial Corporation NYSE: COF is a diversified bank holding company headquartered in McLean, Virginia. The company's core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.

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